Gilts Rise Before U.S. Payroll Report; Pound Weakens Versus Euro
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U.K. government bonds rose, with 10-year yields falling the most in a week, before a U.S. report that analysts said will show job growth in the world’s biggest economy slowed last month.
Benchmark yields dropped to the lowest level this month as speculation the U.S. recovery is waning underpinned demand for safer assets. The pound weakened for the first time in three days against the euro after German industrial production increased the most in a year. Sterling is still headed for its biggest weekly gain in more than three years against the dollar. The U.K. sold 2.5 billion pounds ($3.9 billion) of bills.